asterisk, I checked with the Company and I was wondering that myself. No, the 200m shares won't change thankfully. It's now a signed deal.
Positive spin? Well, the cash drain that was required just to maintain ownership of the Balkans will be halted and that cash can instead be directed to more profitable projects. IMO one of our Directors should be leaving given the Balkans were his baby (pure speculation on my behalf) so there should be more cash saved there.
Will we drop any further? My guess (blind hope??) is that probably not given most of the long termers have a break even in the teens and you have to be mighty pissed off to take a loss of this size. The challenge will be whether the selling increases as the share price rises and peoples losses moderate.
I guess it really depends on what the coal projects are actually worth at the moment. It looks to me that at least on day one, the drop under ten cents in May, to where we are now was the value of Monty being removed from our market cap. 10 cents equated to a $34 million market cap., and we are now at an $18M market cap., so $16M has been removed from the market cap since the announcement that the $15M Balkans sale had fallen through.
BMB Price at posting:
5.0¢ Sentiment: Hold Disclosure: Held
